National Pension Service Has $47.03 Million Stock Holdings in Extra Space Storage Inc (NYSE:EXR)

Key Points

• The National Pension Service increased its holdings in Extra Space Storage Inc (NYSE:EXR) by 0.7%, acquiring an additional 2,346 shares to own approximately 316,695 shares valued at about $47 million.
• Recent analyst reports have led to a mixed outlook for EXR, with price targets ranging from $55 to $166 and a consensus rating of "Hold."
• Extra Space Storage declared a quarterly dividend of $1.62 per share, reflecting a 4.7% yield, with a payout ratio currently at 140.56%.

National Pension Service increased its position in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 0.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 316,695 shares of the real estate investment trust's stock after acquiring an additional 2,346 shares during the period. National Pension Service owned about 0.15% of Extra Space Storage worth $47,026,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Extra Space Storage by 0.9% in the first quarter. Vanguard Group Inc. now owns 33,969,485 shares of the real estate investment trust's stock valued at $5,044,129,000 after purchasing an additional 295,556 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Extra Space Storage by 205.7% in the first quarter. JPMorgan Chase & Co. now owns 4,094,555 shares of the real estate investment trust's stock valued at $608,001,000 after purchasing an additional 2,755,265 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Extra Space Storage by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,136,640 shares of the real estate investment trust's stock valued at $469,229,000 after purchasing an additional 24,533 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Extra Space Storage by 0.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,077,577 shares of the real estate investment trust's stock valued at $456,989,000 after purchasing an additional 12,607 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of Extra Space Storage by 18.7% in the first quarter. Invesco Ltd. now owns 3,056,384 shares of the real estate investment trust's stock valued at $453,843,000 after purchasing an additional 480,642 shares during the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $150.35, for a total value of $1,127,625.00. Following the completion of the transaction, the chief executive officer owned 27,260 shares in the company, valued at approximately $4,098,541. The trade was a 21.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.96% of the company's stock.

Extra Space Storage Price Performance

EXR traded up $0.38 during midday trading on Friday, reaching $137.01. 1,194,960 shares of the company's stock were exchanged, compared to its average volume of 1,345,268. The firm has a market capitalization of $29.08 billion, a price-to-earnings ratio of 29.72, a price-to-earnings-growth ratio of 3.32 and a beta of 1.07. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.88. Extra Space Storage Inc has a one year low of $121.03 and a one year high of $184.87. The business has a 50-day simple moving average of $146.30 and a two-hundred day simple moving average of $147.27.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $2.05 EPS for the quarter, missing analysts' consensus estimates of $2.06 by ($0.01). The business had revenue of $841.62 million for the quarter, compared to the consensus estimate of $719.43 million. Extra Space Storage had a return on equity of 6.69% and a net margin of 29.51%. The firm's revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.06 EPS. As a group, research analysts predict that Extra Space Storage Inc will post 8.1 EPS for the current year.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were paid a $1.62 dividend. The ex-dividend date was Monday, June 16th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.7%. Extra Space Storage's payout ratio is 140.56%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Bank of America raised their price target on Extra Space Storage from $155.00 to $161.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. JPMorgan Chase & Co. raised their price target on Extra Space Storage from $160.00 to $162.00 and gave the company a "neutral" rating in a research report on Friday, June 13th. Barclays lowered their price target on Extra Space Storage from $178.00 to $169.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. Scotiabank increased their target price on shares of Extra Space Storage from $149.00 to $166.00 and gave the company a "sector outperform" rating in a research note on Monday, May 12th. Finally, Evercore ISI reduced their target price on shares of Extra Space Storage from $148.00 to $146.00 and set an "in-line" rating for the company in a research note on Monday, August 4th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Extra Space Storage has an average rating of "Hold" and a consensus target price of $155.85.

Extra Space Storage Company Profile

Extra Space Storage Inc, headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the S&P 500. As of December 31, 2023, the Company owned and/or operated 3,714 self-storage stores in 42 states and Washington, DC The Company's stores comprise approximately 2.6 million units and approximately 283.0 million square feet of rentable space operating under the Extra Space, Life Storage and Storage Express brands.